Revenue Cycle Management (RCM)

MedVoice’s RCM Service optimizes the claims process, significantly increases revenue, and greatly reduces medical billing costs.

Revenue Cycle
Management

MedVoice’s RCM Service optimizes the claims process, significantly increases revenue, and greatly reduces medical billing costs.

The MedVoice RCM Process

Every Healthcare organization and Medical Practice has unique medical billing and payment collections requirements. For nearly 20 years, MedVoice has partnered closely with our Healthcare Clients to understand their specific billing and payment collections needs, and have deployed the resources and actions necessary that immediately delivered improved clean-claims processes, increased monthly collections and revenue to the organization, while significantly reducing the billing and collections departmental costs of our Clients.

The financial results of MedVoice RCM Service for our Clients are immediate, and have a dramatic impact on the organization’s financial performance, their ability to grow the organization, and to deliver exceptional Healthcare to their Patients!

It is critical that accurate and complete patient information is obtained during patient registration and check-in in order to properly process claims and streamline the billing process and avoid costly errors. A claim submitted with incorrect patient data will cause the entire revenue cycle management to suffer due to the denial and resubmission process.

The first important step of revenue cycle management is verifying the patient’s insurance eligibility and benefits during patient registration.
This step is crucial, as you need to know if the patient’s insurance policy covers the medical services to be rendered by your practice.
MedVoice is highly-effective and cost-effecient in conducting the insurance verification process.
This step involves documenting the different types of services provided to the patient. It’s crucial to ensure that steps are taken and there
are effective processes in place to ensure common mistakes like under-coding or over-coding do not happen.
It is vital to the charge capture process that the practice has specific processes in place to document all services rendered in real time.
It is very important in this step of revenue cycle management to always ensure that only accurate patient and service data is submitted  in  
order to prevent delays and denials in the payment process. MedVoice RCM Team continually monitor submitted claims to identify any rejections or denials and take instant action to resolve them.
Posting payments involves recording the payments received from insurance companies and/or patients. MedVoice RCM Team ensures that
all payments are captured and recorded accurately and efficiently, as well as addressing any discrepancies or underpayments.
This step is criticial for the proper collection and recognition of the revenue owed to the organization for the services rendered.
Managing denials is a critical part of healthcare revenue cycle management and financial performance of a healthcare organization!
MedVoice RCM continually demonstrates its experience and expertise in identifying the various causes of denials and immediately takes
 the necessary steps to appeal and/or resolve them.
Daily review of and following up on outstanding accounts receivable is essential to decrease the delays in patient and insurance payments.
MedVoice RCM Team utilizes several proven processes, tecniques, and technologies to effectively collect outstanding balances while
maintaining positive relationships with patients and insurance companies.
To effectively manage patient payment collections, it is essential to maintain regular communication with patients.
Communication with patients regarding payment plans or discounts in exchange for prompt payments increase patient collection efforts.

MedVoice RCM Delivers

MedVoice RCM actively partners with our Clients to significantly improve their claims management processes and financial performance.  The financial results of MedVoice RCM Service for our Clients are immediate, and have a dramatic impact on the success of the organization’s ability to grow and to deliver exceptional Healthcare to their Patients!

Revenue Cycle Management Services